Life as an entrepreneur can be tough. In the early days of starting a business, many of us work alone. Even later, when we’ve built our businesses up and have employees, it can still be lonely at the top, as the person making all the decisions and taking all the risks.
It can also be hard to know how to grow your business. If you started alone, there might come a point when you quite simply don’t know how to take it any further, or when you feel as though you’ve hit a wall, and growth has stalled.
These things are common, normal even, but that doesn’t mean that they are just elements of entrepreneurship that you just have to accept. Through networking, you can make important connections, both to help you to feel less isolated, and to grow your business.
What is Networking?
Networking is the act of speaking to fellow professionals, often in your field but also in complementary industries with the intention of sharing information and services, exchanging ideas, and growing businesses. It can be done in a formal or informal setting, either in person or online.
Why is Networking So Important for Entrepreneurs?
Networking is essential to all businesses, but to entrepreneurs, it can be especially useful. The benefits include:
- Learning opportunities
- Direct financial opportunities
- Access to helpful services
- A chance to build a like-minded support network
- Business growth
- New inspiration and perspective
Know Your Business
However you chose to network, you need to know your business inside out. You need to be able to speak passionately about it, sell it, and answer any questions. You also need to know all you can about your field, and business in general, so that you can ask the right questions of others.
One of the best ways to learn more is to study. A Doctor of Business Administration online is a degree for business leaders to advance their skills and knowledge in their field. You’ll learn more about networking, and how to do it, but if you study a Doctor of Business Administration online with Aston University, you’ll also gain the confidence and knowledge that you need to make connections with leaders in your field, build important relationships, show off your business, and sell yourself. With the right education, making these connections becomes easier and more beneficial for your business.
Start with Social Media
Chances are that your business is already using social media for promotion and marketing. But it’s also a great tool when it comes to networking. Look for groups that you can join, comment on other business pages, and reach out on LinkedIn.
Attend Events
Networking events are one of the best ways to make connections with other businesses and entrepreneurs. They are fantastic because everyone is there for the same reason, which can make it easier to get conversations going. Look online for networking events in your local area.
Host Events
If you can’t find much going on around you, or the current networking events don’t feel like the right fit for your business, starting your own can be a great idea. There are probably plenty of other entrepreneurs looking to network and eager for an opportunity to get out there. All you need is a great place to host, social media to promote the event, and a list of people to invite.
Take the Time to Prepare
Whether you are hosting or attending, networking can cause anxiety. You might not know what to say to people, and there’s a danger that you’ll come over too salesy. Before the event, do some research. Look at who will be there are what they do. Plan some questions to ask, as well as some things that you’d like to share. You don’t need to prepare a script, but some prep will help you to feel more confident.
Make the First Move
Remember, a lot of entrepreneurs are nervous in crowds. Make the first move by simply going over and saying hi to someone, and the conversation might start to flow.
Ask Questions
Asking questions is a great way to learn more about other businesses, and what they could offer you. Think about the things that you’d like to learn more about, or gain experience of, and ask for advice.
Don’t be a Robot
It’s so easy to become a corporate robot, reciting sales pitches, and corporate waffle. Instead, try to keep things natural. Think of networking events as informal chats, instead of pitches.
Get Involved in the Community
Your local community is a fantastic place to make new connections, advertise to customers and services, and even attract potential investors and partners. If any charity events are happening in your area, get involved, or even start your own. Sponsoring an event or offering up your time and services to a charity, is a fantastic way to build a great reputation, and make contact with other businesses and people looking to do the same.
Keep Networking in Mind
Networking isn’t just for specific events. There’s often a chance to make an important connection when you least expect it, perhaps when you are waiting to pick your kids up from school or queuing in the supermarket. Whenever you get chatting to someone, be sure to ask what they do, and if it feels natural and useful, pass on a business card, or contact details.
Offer Help and Advice
Networking isn’t just about what you can get from other people; it’s also about what you can give. Offer help and advice to people just starting out or thinking about starting a business. Share your knowledge and experience and keep in touch – you never know when you’ll need their help in the future.
Get Business Cards – and Use Them
Business cards can seem a little old fashioned in the digital age, but they are still remarkably useful. Make sure your cards have contact details and explain what your business is and get into the habit of carrying some all the time.
Remember – Relationships Take Work
The most important part of networking isn’t making the connection and exchanging details. It’s keeping in touch, maintaining, and building relationships, and committing time to them. Try to follow up after swapping details, follow people on socials, and check-in as often as you can. Grow relationships and they’ll be more helpful and supportive, in a variety of ways.
Networking is something that many modern businesses are guilty of neglecting, but if anything, it’s more important than ever. If you’ve never thought about networking, or you are a little shy, it’s time to put yourself out there.
